Some Strategies to Face the Next Crisis - page 3.

deisik

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Quote from: TheUltraElite on July 01, 2020, 11:55:13 AM

Quote from: Negotiation on June 11, 2020, 09:58:35 PM

The next crisis is going to be more serious so we all need to think about the future and save some More people will suffer from financial problems so I think it is better to invest in Bitcoin than to plant fruits.

Fellow member, this crisis is already far from over and you are already thinking about the next one? Such incidents occur once every 10+ years and thus you will get time to get ready, now is not the time to cut down costs but be diligent about how you will face problems that might come up.

Quote

Because the price of Bitcoin will go up if I buy it now, I will get double profit if the price goes up and I will be able to save something for the future Then we will be able to overcome this crisis very easily.

"Double profit" sounds like something that the ponzi scammers are going to post about, I expect better from you, at least. Maybe 20-30% or more gains if held for several years but the next crisis - nobody knows when and whether bitcoin use will be increasing in prevalence then

I'm not sure about double profits either

However, I wouldn't be surprised in the least if Bitcoin rose to 15k in a matter of days or weeks if it ever comes to that. If it crashed from 9k to 4k in a matter of days, it won't take long to add another 5k to its current price. Moreover, the longer Bitcoin sits around 9k, the stronger will be the future price action, as has always been the case in the past. So buckle up and get ready for the coming roller-coaster

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Negotiation on June 11, 2020, 09:58:35 PM

The next crisis is going to be more serious so we all need to think about the future and save some More people will suffer from financial problems so I think it is better to invest in Bitcoin than to plant fruits.

Fellow member, this crisis is already far from over and you are already thinking about the next one? Such incidents occur once every 10+ years and thus you will get time to get ready, now is not the time to cut down costs but be diligent about how you will face problems that might come up.

Quote from: Naida_BR on June 14, 2020, 04:29:17 AM

The only mistake that I'm doing right now is that I have a lot of capital in USD due to my paid salary. In the coming weeks I want to get rid of it and invest in real estate or crypto things that do not get affected directly from a crisis.

Well if you are anywhere in the North American continent, you should have access to bitcoin exchanges that are legitimately running and allowing US and Canada customers. A safe way is to put in ~10% of earnings in bitcoin every month or vary your mileage as per price of bitcoin.

Naida_BR

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In order to prepare myself for the next crisis, I try to accumulate as much wealth as I can.
The only mistake that I'm doing right now is that I have a lot of capital in USD due to my paid salary. In the coming weeks I want to get rid of it and invest in real estate or crypto things that do not get affected directly from a crisis.

Negotiation

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The next crisis is going to be more serious so we all need to think about the future and save some More people will suffer from financial problems so I think it is better to invest in Bitcoin than to plant fruits. Because the price of Bitcoin will go up if I buy it now, I will get double profit if the price goes up and I will be able to save something for the future Then we will be able to overcome this crisis very easily.

The cure

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We are now in the middle of the crisis, no one of us can tell when it will end, and even if this pandemic ends we will face another crisis surely. Save your money by not buying unnecessary things instead keep it and save. If you have a job just do your best for you to remain in your company because some of other company do cost cutting or laying off other employees.Grow your garden by planting some veggies and fruit for your family.

lumeire

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Quote from: slapper on June 06, 2020, 02:04:03 AM

I think that saving is the best thing to do to deal with the next crisis. The Asian, they never lose a lot of money during crisis since they always know how to protect their money and assets. On the other hand, Western people love to spend money as much as they can and use a lot of credit cards to buy luxuries, high-techs, and useless goods. There are many things we can learn from China and how they cope with this crisis.

Yes most of the american households are in a total debt if you see, they always are buying a lot of expensive goods that they can't afford with credit cards which are easily available to those who are salaries and most of the people of Western countries live paycheck to paycheck and that's the real problem. If you are saving a little bit of your salary then that comes handy when you are facing a crisis situation and also you should save for rainy days so as you won't have to take a loan in that situation.

bearexin

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I accept as true with you that rather than sitting reception during this crisis we'd like to seek out how to figure through which we will overcome this crisis very easily. the simplest way is to trade. By trading, we will earn a touch a little bit of money a day and but the longer term. If we will save enough we will affect the subsequent crises and help others blast to earn from sitting reception.

Yes, people really have to be doing anything possible to help them when things start getting difficult. Thank God I have been buying and investing in a lot of things before and they have been helping me to grow my wealth level. I also save money, I have an application that helps me when it comes to savings.

I just set the amount I want to be saving daily and everyday, early in the morning, they will debit that exact amount from my account and save it for me. And the best part of it is that they also give me an annual interest on my savings that is about four times better than what Banks can give. Cryptocurrency has also been a good investment and what I love about cryptocurrency is that I have access to it at all times and can buy and sell whenever I want to.

Chrystora123

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Quote from: azmirihaque on May 10, 2020, 11:15:23 AM

snip..
• Don't buy any luxurious goods for you or your family.

This advice only applies to employees. I see some entrepreneurs have even gotten richer and many are buying luxury goods in the current conditions, they are really lucky, their business is staying strong in this "PANDEMIC"..

Quote from: azmirihaque on May 10, 2020, 11:15:23 AM

• Don't engage in any borrowing. You should try your best to avoid it.

Of course.. borrowing is not a good thing if you use the money to buy things like cars, watches or new motorbikes. at present even some governments in many countries make policies to delay loan payments (this rule applies to citizens who have already borrowed before this "PANDEMIC")..

Quote from: azmirihaque on May 10, 2020, 11:15:23 AM

• If you are salaried, concentrate to your own job seriously so that your organization don't get any scope to release you from the job temporarily or permanently.

according to the data, more than 60 million new disturbances arise because of this "PANDEMIC", this automatically makes the competition to get jobs going tighter. for those who have become employees as well as possible to maintain your performance, or you will be replaced by others who very want your position..

slapper

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I think that saving is the best thing to do to deal with the next crisis. The Asian, they never lose a lot of money during crisis since they always know how to protect their money and assets. On the other hand, Western people love to spend money as much as they can and use a lot of credit cards to buy luxuries, high-techs, and useless goods. There are many things we can learn from China and how they cope with this crisis.

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Quote from: Upgate on June 04, 2020, 05:55:26 PM

How long will you continue saving up your money without doing any business that gives you daily income? Remember once you don't have money at hand, you are likely to make use of your saved money.

The only solution during recession is to get yourself busy with something that will fetch money for you. No matter how little it is

You have a point Upgate, just saving is not good, saved money is losing
value, it's better when money is work for you and generate some income.
During hard times its hard to earn, but not impossible. The recent crisis
was hard for some businesses, but for some it was profitable. Who could
predict this earned a lot.
Strategy for crisis is find a way to earn, do something, observe and act, don't
just sit at home in fear.

CHENIEN

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In my opinion previously many people have been criticized and absolutely stressful and fitting to fix the impact of economic growth from the anxiety incurs actually, through this angle we found a lot of technic to face with the second wave of economic crisis which is controlled and usable for when time comes that were in the midst of privation, so despite the best efforts and strategy is came from the past experience therefore im sure that we holding a flexible to oppose the unexpected economic crisis.

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Quote from: elisabetheva on June 04, 2020, 05:57:47 PM

Quote from: Freeesta on June 04, 2020, 10:27:39 AM

Of course, the pandemic has affected the economies of many countries, I hope that next time the government will be able to cope with such an epidemiological situation. The government must first take care of its citizens and support them in difficult situations. Let's hope that the crisis will pass soon, I advise you now not to make major purchases and think primarily about your health.

when the pandemic happened, medical devices through online delivery were sought after by many people to defend themselves from being infected. So it is true what you say is the main thing now to maintain health by following a pattern that has become a protocol for the prevention of pandemic transmission. although we know that with the economic pandemic so many have been disturbed both personally and nationally. it is feared that a new pandemic will emerge, that is hunger because of the inability of people to buy necessities of life.

That's why we need to be prepared for the next pandemic to come so that we will not suffer from this current incident happening today, a lot of lessons we can learn from this experience and for sure the majority will stock up some funds for emergency matters. There are so many sufferings today due to unexpected situation and I'm sure the government also learn something from this so I'm expecting next time that they will implement a strong measure regarding on economical survival in future.

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Quote from: Freeesta on June 04, 2020, 10:27:39 AM

Of course, the pandemic has affected the economies of many countries, I hope that next time the government will be able to cope with such an epidemiological situation. The government must first take care of its citizens and support them in difficult situations. Let's hope that the crisis will pass soon, I advise you now not to make major purchases and think primarily about your health.

when the pandemic happened, medical devices through online delivery were sought after by many people to defend themselves from being infected. So it is true what you say is the main thing now to maintain health by following a pattern that has become a protocol for the prevention of pandemic transmission. although we know that with the economic pandemic so many have been disturbed both personally and nationally. it is feared that a new pandemic will emerge, that is hunger because of the inability of people to buy necessities of life.

Upgate

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How long will you continue saving up your money without doing any business that gives you daily income? Remember once you don't have money at hand, you are likely to make use of your saved money.

The only solution during recession is to get yourself busy with something that will fetch money for you. No matter how little it is

aioc

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We are caught unprepared on this pandemic here in our country the worst hits are the transportation sector and the restaurant industry, it will take to long before they can get back to business, so even if they have savings they have no recourse but to sell some of their stuff, we all have to do away with luxury items and sell it in exchange for food stocks which is the most important item now.

Freeesta

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Of course, the pandemic has affected the economies of many countries, I hope that next time the government will be able to cope with such an epidemiological situation. The government must first take care of its citizens and support them in difficult situations. Let's hope that the crisis will pass soon, I advise you now not to make major purchases and think primarily about your health.

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Quote from: raidarksword on June 04, 2020, 07:37:15 AM

Good pointers you have sir and it's the best time to be more thrifty as this crisis is still out there and it will only be over if vaccine is been produced for everyone to have a relax and calm down this crisis once in for all. This is the point that our savings will be used and will come in handy in drastic times of covid-19 continues because the economy is still is yet to recover and many people not be able to go back to work. People should embrace the new normal and make smart moves to spend less to survive long enough until we find cure and defeat this crisis.

Thats why we need to be ready what will come soon.

The effect of this Pandemic will remain for the whole year or even until next,and crisis will come towards each door ,but if we will have defensive action then there maybe a chance that we can survive inn this battle.

raidarksword

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Good pointers you have sir and it's the best time to be more thrifty as this crisis is still out there and it will only be over if vaccine is been produced for everyone to have a relax and calm down this crisis once in for all. This is the point that our savings will be used and will come in handy in drastic times of covid-19 continues because the economy is still is yet to recover and many people not be able to go back to work. People should embrace the new normal and make smart moves to spend less to survive long enough until we find cure and defeat this crisis.

TheGreatPython

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Quote from: yohananaomi on May 31, 2020, 04:05:46 PM

Quote from: bits4books on May 31, 2020, 08:18:27 AM

If the economy has a chance to finally collapse and if it collapses, then no savings will help, but material things is another story. I think it's a good time to buy a house or invest in something else material, gold, etc. Maybe even buy a piece of land and start microfarming lol

in a situation like this all in a state of a dilemma, all the financial mess and can not be managed properly because a lot of expenses rather than income. so that all forms of investment are things that can not be thought of anymore because the need for money to meet their own needs is preferred. all forms of sales no one has ever looked at because now the focus is only on being able to meet daily needs so as not to be stricken by hunger and contracting a pandemic.

Yes, now is the right time for everyone to start saving money. These are the times a lot of people are going to start losing their jobs and the unemployment rate will be high. As for being serious with our jobs, sometimes that doesn't really matter, because in some cases, some companies don't care if you're being serious or not.

I have already seen companies that have relieved some of their employees of their duties without minding if they are hardworking or not. Sometimes the level of connection you have does matters a lot, because if you are close to those at the top, they might consider you.

Sadly, it's not everyone that can have that kind of connection. That's why it's very important to learn news skills, and build a strong social network. If you keep focusing on one skill, the area you're working might end up becoming obsolete. Lastly, you should invest your money. During a financial crisis is the right time to invest your money since assets and stocks will be very low. That creates an opportunity to buy low and sell high.

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Quote from: hahay on May 23, 2020, 08:17:22 PM

If you still get income and also a savings, then it will still be good for the next few days, weeks or months and as long as you can manage your finances more wisely then that is the key to staying safe during a crisis. Well, but the problem is those who have even lost their jobs when lockdown is being applied for the first time, even some families in my country sell their goods or property just to buy food and other things to cover their living costs, because the solution is about sharing assistance from the government and / or donations made is still insufficient to cover the cost of living for the people.
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Definitely, some countries that experienced long period of lockdown forced most of the people to sell their properties for a living. This is the time, cryptocurrency enthusiasts recommend cryptocurrency investment for people who do not know about it. Investing in cryptocurrency within this era is one good strategy to face the crisis.

Topic: Some Strategies to Face the Next Crisis - page 3. (Read 1425 times)